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UPDATE 1-First Citizens beats profit estimates, says SVB business stabilized
First Citizens BancShares' first-quarter profit beats expectations. Bank says SVB business stabilized for first time since acquisition of failed Silicon Valley Bank last year. First Citizens' interest income more than doubled from a year earlier to $1.82 billion. The lender's loans and deposits stabilized at $55 billion in the first quarter.
Reuters · 6h ago
UPDATE 2-First Citizens profit beats estimates as Silicon Valley Bank stabilizes
First Citizens profit beats estimates as Silicon Valley Bank stabilizes. Shares surged almost 7% in morning trading. The lender earned higher interest income and started seeing benefits of its acquisition of failed Silicon Valley bank last year. First Citizens' interest income more than doubled in the first quarter.
Reuters · 6h ago
SVB-owner First Citizens' profit beats estimates on interest income strength
SVB-owner First Citizens' profit beats estimates on interest income strength. First Citizens BancShares' first-quarter profit beat expectations as lender earned higher interest income. The lender has been boosted by its acquisition of Silicon Valley Bank last year. The bank's interest income more than doubled from a year earlier to $1.82 billion.
Reuters · 8h ago
HSBC says growing Chinese wealth fuels client investments in US
HSBC says growing Chinese wealth fuels client investments in the U.S. HSBC manages around $1.8 trillion from wealthy clients in China and Hong Kong. The bank's CEO says wealthy Chinese citizens are focused on overseas investments. HSBC bought Citigroup's consumer wealth business in China last year.
Reuters · 1d ago
UPDATE 3-UK gets over 90 billion pounds of orders for 30-year bond
UK gets over 90 billion pounds of orders for 30-year bond sale. Orders for July 2054 gilt look to offer record-high yield for a gilt sold via syndication. Highest levels of demand on record for a British government bond sold in a syndicated sale. 6.75 billion pounds sold of benchmark 30- year British government debt.
Reuters · 1d ago
UPDATE 5-UK sells 30-year bond at record-high yield as prices slide
UK sells 6.75 billion pounds of 30-year bond at record-high yield as prices slide. Investors placed third-highest volume of orders on record for a gilt syndication. The sale took place against the backdrop of a slide in government bond prices. The yield on the bond reached a five-month high of 4.806% on Wednesday.
Reuters · 1d ago
RPT-COLUMN-Has Wall Street peaked too early?: McGeever
Jamie McGeever says Wall Street's recent 5% mini-correction may have peaked too early. He says stocks face higher earnings and interest rate hurdles in the second half of the year. The S&P 500 index retreated 5.5% from its all-time high on March 28. But the U.S. Exceptionalism is alive and well, he says.
Reuters · 2d ago
COLUMN-Has Wall Street peaked too early this year?: McGeever
Jamie McGeever: Wall Street's recent 5% mini-correction may have peaked too early this year. He says stocks face higher earnings and interest rate hurdles in the second half of the year. The S&P 500 index retreated 5.5% from its all-time high of 5,264.85 points on March 28. But he says the U.S. Exceptionalism is alive and well and the market will recover. Mc geever says the biggest risk this year is higher interest rates and inflation.
Reuters · 2d ago
UPDATE 3-Abu Dhabi returns to debt markets with $5 billion bond sale
Abu Dhabi returns to debt markets with $5 billion bond sale. The emirate sold three-part bonds for the fist time in three years. Abu Dhabi holds more than 90% of the UAE's oil reserves. It had $37.8 billion in outstanding bonds as of Dec. 31.
Reuters · 2d ago
UPDATE 3-Travel firm Viking aims for up to $10.8 bln valuation in US IPO
Travel firm Viking Holdings aims for up to $10.8 bln valuation in US IPO in the United States. The company is targeting a range between $21 and $25 per share in the IPO. Viking joins a slew of companies looking to take advantage of a rebound in the capital market.
Reuters · 3d ago
ANALYSIS-Souring China dreams force Western financial firms to cut costs
Western financial firms have sharply cut China-focused jobs or have shelved expansion plans. Growing doubts grow about China's economic recovery and lacklustre asset generation. A growing list of Western financial firms are cutting costs in China. The souring of the China allure for Western firms is forcing them to cut costs in the country.
Reuters · 3d ago
PRECIOUS-Gold on track for weekly rise as Middle East risks loom
Gold on track for weekly rise as Middle East risks loom Tehran plays down suspected attack by Israel Gold up over 2% for the week Platinum, palladium down for the weekend. Spot gold prices up 0.7% on Friday and 2.2% this week. Fears of retaliation between Iran and Israel triggered safe-haven demand.
Reuters · 6d ago
BUZZ-Australia's Genetic Technologies tumbles on discounted placement in US
Shares of Genetic Technologies GTG.AX fall as much as 25.7% to A$0.130. Stock hits its lowest level since April 4. Molecular diagnostics co announces a $2 mln direct offering for its American depository shares in U.S.
Reuters · 6d ago
FACTBOX-What to expect in 2024: Forecasts for GDP, inflation and other assets
Major banks release forecasts for global growth, inflation and other assets in 2024. HSBC, BofA Global Research, Wells Fargo Investment Institute provide forecasts for 2024. Forecasts come as major central banks across the globe have indicated interest rate cuts this year. U.S. Consumer prices are expected to rise more than expected in March.
Reuters · 04/18 14:59
REFILE-WRAPUP 4-Morgan Stanley, HSBC cutting Asia investment banking jobs on China deals slowdown
Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific region this week. The cuts come on the back of weaker dealmaking and sluggish markets in China and Hong Kong. Morgan Stanley is cutting at least 50 jobs, sources say, affecting around 13% of its Asia investment banking workforce. The moves are among the largest for the banks' China-focused investment banking teams.
Reuters · 04/17 11:42
WRAPUP 4-Morgan Stanley, HSBC cutting Asia investment banking jobs on China deals slowdown
Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific region this week. The cuts come amid a slowdown in dealmaking and sluggish markets in China and Hong Kong. Morgan Stanley is cutting at least 50 jobs in Asia Pacific this week, sources say. HSBC is expected to cut around 30 dealmakers in the region.
Reuters · 04/17 11:42
CORRECTED-WRAPUP 2-Morgan Stanley, HSBC cutting dozens of Asia investment banking jobs on deal slowdown
Morgan Stanley, HSBC cutting dozens of Asia investment banking jobs on deal slowdown. Morgan Stanley is cutting at least 50 jobs in the region starting this week, sources say. Money raised via China IPOs plunged 82% and two-thirds in the first quarter. The cuts are among the largest to the two banks' China-focused investment banking teams.
Reuters · 04/17 08:12
Spanish stocks - Factors to watch on April 17
Spanish stocks may be affected by reports and other factors on Wednesday. Acciona Energia to restructure its businesses in Brazil. Ferrovial has filed documentation to be listed in the U.S. Virgin Media O2 has clinched a deal to offer mobile phone services in remote rural areas of the UK.
Reuters · 04/17 06:14
UPDATE 2-Europe's STOXX 600 slides in broader market decline on geopolitical jitters
Europe's STOXX 600 slides in broader market decline on geopolitical jitters. Europe's main stock index its biggest one-day drop in over months with miners and banks leading losses. The pan-European SToXX 600 closed 1.6% down, touching its lowest level since March 7. Higher euro zone bond yields also pressured equities. European Central Bank policymakers stick with June rate cut plan.
Reuters · 04/16 09:26
PRESS DIGEST - Wall Street Journal - April 16
US Justice Department is preparing to sue Live Nation as soon as month. Tesla plans to slash more than 10% of its global workforce. New York Times Co. Ends investigation into whether staffers leaked confidential information about its Gaza war coverage. The Wall Street Journal lists the top stories in the paper.
Reuters · 04/16 06:09
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About HSEB
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America. RBWM business offers Retail Banking, Wealth Management, Asset Management and Insurance. CMB services include working capital, term loans, payment services and international trade facilitation, among other services, as well as expertise in mergers and acquisitions, and access to financial markets. GB&M supports government, corporate and institutional clients across the world. GPB's products and services include Investment Management, Private Wealth Solutions, and a range of Private Banking services.